Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-08-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09143401 2022-08-01 2023-10-31 09143401 2021-08-01 2022-07-31 09143401 2023-10-31 09143401 2022-07-31 09143401 c:Director1 2022-08-01 2023-10-31 09143401 d:FurnitureFittings 2022-08-01 2023-10-31 09143401 d:FurnitureFittings 2023-10-31 09143401 d:FurnitureFittings 2022-07-31 09143401 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-10-31 09143401 d:CurrentFinancialInstruments 2023-10-31 09143401 d:CurrentFinancialInstruments 2022-07-31 09143401 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09143401 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 09143401 d:ShareCapital 2023-10-31 09143401 d:ShareCapital 2022-07-31 09143401 d:RetainedEarningsAccumulatedLosses 2023-10-31 09143401 d:RetainedEarningsAccumulatedLosses 2022-07-31 09143401 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-10-31 09143401 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-07-31 09143401 c:FRS102 2022-08-01 2023-10-31 09143401 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-10-31 09143401 c:FullAccounts 2022-08-01 2023-10-31 09143401 c:PrivateLimitedCompanyLtd 2022-08-01 2023-10-31 09143401 2 2022-08-01 2023-10-31 09143401 e:PoundSterling 2022-08-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 09143401









IHS DEVELOPMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2023

 
IHS DEVELOPMENTS LIMITED
REGISTERED NUMBER: 09143401

BALANCE SHEET
AS AT 31 OCTOBER 2023

31 October
31 July
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,711
2,313

  
1,711
2,313

Current assets
  

Debtors: amounts falling due within one year
 5 
42,901
10,341

Cash at bank and in hand
 6 
78,834
142,688

  
121,735
153,029

Creditors: amounts falling due within one year
 7 
(18,671)
(17,100)

Net current assets
  
 
 
103,064
 
 
135,929

Total assets less current liabilities
  
104,775
138,242

  

Net assets
  
104,775
138,242


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
104,675
138,142

  
104,775
138,242


Page 1

 
IHS DEVELOPMENTS LIMITED
REGISTERED NUMBER: 09143401
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2024.





................................................
Iain Shone
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
IHS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

1.


General information

IHS Developments Limited is a private company limited by share capital and incorporated in England.  The principal activity of the Company throughout the period was that of consultancy. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
IHS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
IHS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 1 (2022 - 1).

Page 5

 
IHS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

4.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


At 1 August 2022
8,236


Additions
762


Disposals
(4,955)



At 31 October 2023

4,043



Depreciation


At 1 August 2022
5,923


Charge for the period on owned assets
572


Disposals
(4,163)



At 31 October 2023

2,332



Net book value



At 31 October 2023
1,711



At 31 July 2022
2,313

Page 6

 
IHS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

5.


Debtors

Period ended 31 October
Year ended 31 July
2023
2022
£
£


Trade debtors
12,901
10,341

Other debtors
30,000
-

42,901
10,341



6.


Cash and cash equivalents

Period ended 31 October
Year ended 31 July
2023
2022
£
£

Cash at bank and in hand
78,834
142,688

78,834
142,688



7.


Creditors: Amounts falling due within one year

Period ended 31 October
Year ended 31 July
2023
2022
£
£

Trade creditors
9,517
-

Corporation tax
7,069
14,922

Other creditors
495
495

Accruals and deferred income
1,590
1,683

18,671
17,100


Included in other creditors is a Director's loan in relation to Iain Shone of £495 (2022 - £495).

Page 7

 
IHS DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2023

8.


Financial instruments

Period ended 31 October
Year ended 31 July
2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
78,834
142,688




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £90,000 (2022 - £43,250).  Contributions totalling £nil (2022 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


10.


Controlling party

The company is controlled by the director, Iain Shone, by virtue of his shareholding as described in the director's report.

 
Page 8